Business
3rd Quarter Results
3rd Quarter Results.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n Dolphin Capital Investors Limited\n05 December 2007\n\n\n\n DOLPHIN CAPITAL INVESTORS LIMITED\n\n\n Q3 2007 NAV Announcement and Trading Update\n\n\nDolphin Capital Investors Limited ('Dolphin' or the 'Company'), the leading\ninvestor in the residential resort sector in south-east Europe and the largest\nreal estate investment company listed on AIM, is pleased to announce its trading\nupdate for the period ending 30 November 2007 and a significant uplift in its Q3\n2007 Net Asset Value ('NAV').\n\n\nHighlights:\n\n\n • NAV per share at 30 September 2007 (fully diluted, before deferred income\n tax liabilities, 'DITL') at 185p, representing an 11% uplift from 30 June\n 2007 and a 68% uplift from 31 December 2006. For the purposes of the 30\n September NAV the Aristo portfolio was revalued while the rest of the DCI\n assets were valued as of 30 June 2007.\n\n • Continued progress with the Company's acquisition strategy during and\n after Q3 2007 through:\n\n • The investment in Plaka Bay Resort ('Plaka Bay'), the Company's second\n major project on the island of Crete\n\n • Completion of the first two investments in southern Turkey (Port Kundu\n and LaVanta), in partnership with pioneering developer Kemer Group\n\n • Execution of Dolphin's tenth major project in Greece through the\n purchase of a 72-hectare beachfront site on the Greek island of Tzia\n\n • Ongoing expansion of Dolphin's landholdings at existing projects\n\n • Permitting progress across the portfolio with notable milestone\n achievements at Lavender Bay Golf Resort ('Lavender Bay'), Venus Rock Golf\n Resort ('Venus Rock') and Eagle Pine Golf Resort ('Eagle Pine')\n\n • Increased total unit sales volume and turnover for Aristo (increased by 9%\n and 7% respectively for the 11-month period ending 30 November 2007 and\n comparable 2006), despite the current difficulties in the UK housing market\n and the withdrawal from pre-sales of Aristo's major projects for the purpose\n of redesign\n\n • On track to be fully committed before the end of H1 2008. Invested and\n committed funds as at 30 September were €408 million and €584 million\n respectively. Corresponding figures as at 30 November were €432 million and\n €648 million respectively, leaving €190 million of uncommitted funds\n\nMiltos Kambourides, Managing Partner of Dolphin Capital P...